The quantum of shares to be placed will enlarge the company's share base by a quarter to more than 3.3 billion shares.
On Sept 26, Adventus announced an agreement for Intercontinental Hotels Group (Vietnam) to manage its hotel in Danang.
Adventus says it is an "opportune time" to raise funds via a placement to "allow the end-placees to participate in the future prospects and development of the group.
"The proposed placement would also increase the financial resources available to the group who had historically relied on bank borrowings and shareholder loans.
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Adventus says it will use proceeds from the placement to repay bank loans, working capital as well as property enhancement costs required by the hotel in Danang.
